DGAP-News: Elmos Semiconductor SE / Key word(s): Preliminary Results
Dortmund, February 17, 2021: Elmos Semiconductor SE (FSE: ELG) generated sales of 232.6 million Euro in 2020 according to preliminary, unaudited figures (guidance: 227 to 233 million Euro). Semiconductor sales were down 14.9% year on year due to the pandemic. Measures to adjust to the situation, such as short-time work, voluntary salary concessions of the Management Board, senior executives, and employees, personnel reductions, and further cost cuts, partly compensated for the decline in demand and allowed a positive EBIT of 8.7 million Euro in 2020 (guidance: 6 to 9 million Euro).
Capital expenditures were reduced to 18.8 million Euro (8.1% of sales) following the lower order volume. Elmos succeeded in generating a positive adjusted free cash flow of 3.6 million Euro in the fiscal year 2020.
In Q4 2020, Elmos generated sales of 68.7 million Euro, a sequential growth of 68.0%. EBIT was 8.9 million Euro, with the EBIT margin in Q4 2020 of 13.0% approaching pre-crisis levels.
"In spite of the adverse conditions, we invested a record amount in developing attractive new products in 2020 and closed the year positively with an EBIT of almost 9 million Euro," explains Dr. Arne Schneider, CEO of Elmos Semiconductor SE. "The strong fourth quarter underlines the considerable momentum in the automotive semiconductor industry. Elmos started the new year well and we expect substantial growth in the first quarter."
In the first quarter of 2021, Elmos expects to generate sales of 76 million Euro (± 3 million Euro). The EBIT margin is expected at 14.5% (± 1.5 percentage points). The guidance is based on an exchange rate of 1.20 EUR/USD.
In fiscal year 2021, Elmos anticipates a significant increase in sales and EBIT compared to the previous year. Capital expenditures are expected to be significantly higher year on year. The company expects to generate a positive adjusted free cash flow above the previous year for fiscal year 2021.
Overview of selected, preliminary and unaudited financial figures
Figures according to IFRS (in million Euro or percent unless otherwise indicated):
1Prior-year figures were adjusted; for purposes of comparison, information regarding the consolidated income statement relates exclusively to continuing operations.
Detailed overviews of the financial figures will be published with the presentation of the final figures in the 2020 Annual Report on March 17, 2021. The dividend proposal to the Annual General Meeting in May 2021 is also expected to be announced on this date.
Definitions of selected financial indicators
Analysts' conference call
17.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Elmos Semiconductor SE
+49 (0)231 7549-575
+49 (0)231 7549-111
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
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